Morgan Stanley delivered a sooty lump of coal to apparel retailers on Thursday, via a grim forecast for the current holiday season. Softlines sales are expected to ring up a meager 1.6 percent same-store sales gain in the fourth quarter, the worst performance since 2008. That figure is 190 basis points below last year’s 3.5 percent increase and 220 basis points below the four-year average from 2009 to 2012.
The estimate was the most pessimistic of the major holiday forecasts from organizations like the National Retail Federation and ShopperTrak, which published earlier estimates of sales increases of 3.9 percent and 2.4 percent, respectively, for the season. Each study analyzed a different universe of retail channels and companies.
Steve Aoki held a presentation, a runway show and outdoor concert for his men's line Dim Mak. Here's a look from his spring 2018 collection, which was titled "Paradise Found." #wwdfashion #wwdmens (📷: George Chinsee)
"It's really hard sometimes. I think I have a reputation for being really tough and aggressive and pushy but I really am a very shy person who wants to be liked, and that's the conflict constantly. There's something that takes hold - I want people to like me, I don't want to be mean - but if I see something that just cries out to be answered, I go for it," says renowned NBC News correspondent Andrea Mitchell. (📷: @axeldupeux)